Recently, more money 4u offered an annuity that pays 6.6% compouned monthly. if 2,303 is deposited into this annuity every month, how much is in the account after 11 years? how much of this is interest?

The account will have $10,622,946 and $10,318,950 are interests

Step-by-step explanation:

The compound interest formula is:

Final Capital (FC)= Initial Capital (IC)*[(1+interest(i))]^(number of periods )

In this case:

IC= $2,303

i=6.6%

n=11*12=132

FC= $2,303*(1+6,6%)^132

FC=$2,303*(4612.65)

FC=$10,622,946

If there was no interest, the person who deposited $2,303, would have:

$2,303*132= $303,996

Then, the difference between the FC and $303,996, are interests:

$10,622,946-$303,996=$10,318,950

answer: the 4 kilogram bag

step-by-step explanation: this is because if you divide the number of kilograms into the total it will tell you how much each individual kilogram would be worth. 2 kilos is 7 and change 3 would be around 6 ish and the 4 kilo would be 4.6 and change and the 5 kilos would be like 4.88

1.true 2.false? ? i think. .

step-by-step explanation: